The doubloon (also called excellent) was a Spanish gold coin that was equivalent to two escudos or 32 reales, and weighed 6.77 grams (0.218 troy ounces). Doubloons were minted in Spain, Mexico, Peru and New Granada. The term doubloon was first used to describe the golden excellent, possibly because it was worth two ducats or the double portrait of the Catholic Monarchs Ferdinand and Isabella.
In Spain, doubloons were legal tender until the mid-19th century. In 1859, Isabel II replaced the shield with the royal ones, as the basis of the doubloon; In addition, it replaced the 6.77 gram doubloon with a new and heavier one that was equivalent to 100 reales and weighed 8.3771 grams (0.268 troy ounces). The last Spanish doubloons (which indicated the denomination of 80 reales) were minted in 1849. The Spanish colonies of Mexico, Peru and New Granada continued to mint doubloons after becoming independent.
The Portuguese colonies have also minted doubloons called dobrão (with the same meaning).
In Europe, the doubloon became the model for many other gold coins, including the French Louis d'or, the Italian doppia, the Swiss duplone, the North German pistole, and the Prussian Friedrich d'or. .